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E*Trade Financial Gets a Buy Rating from Wells Fargo


In a report released today, Christopher Harris from Wells Fargo maintained a Buy rating on E*Trade Financial (NASDAQ: ETFC). The company’s shares opened today at $60.35.

According to TipRanks.com, Harris is a 4-star analyst with an average return of 13.5% and a 67.2% success rate. Harris covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Intercontinental Exchange, and Interactive Brokers.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for E*Trade Financial with a $69.56 average price target, implying a 15.3% upside from current levels. In a report issued on June 28, Credit Suisse also maintained a Buy rating on the stock with a $79 price target.

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Based on E*Trade Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $732 million and net profit of $247 million. In comparison, last year the company earned revenue of $602 million and had a net profit of $193 million.

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E*TRADE Financial Corp. engages in the provision of investment and online stock brokerage services. It offers digital platforms and support to individual investors through phone, email, and online via two national financial centers as well as in personal though financial centers.